What would you like to do?

How much tax should i expect to pay if i plan to sell my stock percentage and are the taxes automatically deducted upon the sale?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

How much tax should i expect to pay if i plan to sell my stock percentage and are the taxes automatically deducted upon the sale?

Taxes are not generally withheld from the proceeds of stock sales, (unless you are subject to backup withholding). A report of the total amount of the sale (not the amount of the gain or loss) is made to the IRS on a form 1099 and that must be accounted for on your return. Stock sales are generally considered a sale of a capital asset and qualify for capital gains taxation. Presuming you meet the qualifications and have owned the stock for 1 year, the Capital gains tax is 15%. if you had it for a shorter period, it will be taxed at your otherwise ordinary tax rate. (BTW, if you aren't already above the lower ordinary tax bracket...still in the 15% ordinary tax bracket...the Long Term Gain rate is only 5%).
1 person found this useful
Thanks for the feedback!
Follow

Between filming Deadliest Catch and the release of your new book and skateboard shoe, when do you find time to skate?

View Full Interview
Do you have to pay federal and state tax on stocks you sell?

Do you have to pay federal and state tax on stocks you sell?

First, it depends on whether you have a gain or loss on the stock. If you sold it at a gain, then you have to see if it can be offset by losses on other sales. Assuming not, t

How much should I pay tax at DMV when sell used car?

If you are the "private" seller you do not collect sales tax. If your states requires sales tax to be paid on a private sell then the DMV will collect it when the buyer regist

Do you pay taxes on dividends and capital gains for ADR stocks by filing returns in the foreign countries or is the tax withheld automatically?

Your dividend statements should say whether tax has been withheld or not, this could come under 'franked amount' (which means tax has been paid on this particular dividend)

Can insurance co-pay be tax deductible?

If you are referring to a MEDICAL/HOSPITALIZATION insurance co-pay, yes, that is deductible as a medical expense. And on property/casualty insurance, it may be deductible as a

Do you have to pay taxes when selling a car?

The taxes will be payed with the new owner because it is now his  responsibility.    In virtually all states, the laws governing sales tax on vehicles  is different t

Is Gas sales tax deductible?

  Gas tax is an excise tax not a sales tax. It is therefore not deductible for federal income tax purposes.

What percentage is Minnesota sales tax?

The state had a rate of 6.875% when this was posted but cities add additional rates on top. 'Sources and related links' below has current rates per city.

What percentage of federal taxes do you pay when you sell your home?

You pay taxes only on the profits (if any). If you owned the house for any two of the previous five years and the house was your principle residence for any two of the previ

What does sales tax pay for?

Answer 1   The use of collected sales taxes varies from state to state. Often, specified portions of sales taxes are dedicated to specific uses, such as education, highwa

Do you pay tax on a gift that you then sell?

  For federal income tax purposes, you would not pay tax on the gift itself, but you would pay a tax on the increase in value (its appreciation) from the time you inherit

What percentage of salary can a single wage earner expect to be deducted for all taxes?

If this is about your net take home pay for each pay period that your gross income is $$$. You should get this information from your employer payroll department as they will